Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time

Tuesday, August 25, 2009

Guesstimates on August 25, 2009

September S&P E-mini Futures: The 1035 upside target was reached yesterday. I estimate that today's day session range will again be 1020-1035. But I don't think we shall see more that a 20 point break until the e-minis reach midpoint resistance near 1054. The e-minis will reach the 1120 level by the end of October.

QQQ: Support is at 38.80. Next upside target is 42.00.

TYX (thirty year bond yield): Support is at 4.20%. I think a swing to above the 5.00% level is underway.

TNX (ten year note yield): Support is at 3.25%. I think a swing up to 4.30% is underway.

Euro-US Dollar: There is no sign of a top. Support is at 137.50 and I think the market will continue upward to 146.00.

Dollar-Yen: The yen has started a move up to 105.00.

October Crude: I now think thatcrude is headed down to 50.00. Resistance is at 76.00.

GLD – December Gold: Still expecting a move to 1070. Support is at 900.

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About Me

I write three financial blogs. The first is Carl Futia.On this blog I post daily "guestimates" of the current trends and trend potential in important markets. Once a week I post an explanation of my views on one of these markets with illustrative charts.
My second blog, Carl Futia Real Time, is subscription based. It is a real time trading seminar in which members receive my real time analysis of the E-mini S&P futures and can watch me trade them. In this seminar I explain how I calculate support and resistance levels and how I recognize market "rejections" of support or resistance which then determine the current trend directions.
My third blog is called The Art of Contrarian Trading and is based on my book of the same title. On that blog I focus less on day-to-day market details and more on swings in investor sentiment, the "information cascades" which I talk about in my book.